Indices Flat; IT, Metal Stocks Dip, UPL Top Gainer

January 14, 2021 / 11:44 AM IST

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Sriram Iyer, Senior Research Analyst at Reliance Securities

International spot gold and silver prices ended marginally in the red on January 13, despite data showing a rise in consumer prices in the United States and expectations that more fiscal stimulus from the Joe Biden administration could trigger higher inflation. However, both Comex gold and silver prices ended marginally in the green. Domestic bullion could trade flat to higher On January 14 this morning, tracking international prices.

Technically, MCX Gold February is sustaining above 49,000 but a hurdle is near 49,500 and it is only above this level that the metal will see a bullish reversal. Prices could trade in the Rs 48,900-49,500 range in the coming session.

MCX March silver ended on a positive note, where Rs 65,000-64,400 holds strong support above which it will continue its bullish momentum up to Rs 66,700-67,200 levels.

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Sriram Iyer, Senior Research Analyst at Reliance Securities

International spot gold and silver prices ended marginally in the red on January 13, despite data showing a rise in consumer prices in the United States and expectations that more fiscal stimulus from the Joe Biden administration could trigger higher inflation. However, both Comex gold and silver prices ended marginally in the green. Domestic bullion could trade flat to higher On January 14 this morning, tracking international prices.

Technically, MCX Gold February is sustaining above 49,000 but a hurdle is near 49,500 and it is only above this level that the metal will see a bullish reversal. Prices could trade in the Rs 48,900-49,500 range in the coming session.

MCX March silver ended on a positive note, where Rs 65,000-64,400 holds strong support above which it will continue its bullish momentum up to Rs 66,700-67,200 levels.

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